Raydium/Tether (RAYUSDT) Market Overview

• RAYUSDT opened at 1.675, touched a high of 1.685, and closed at 1.677 within 24 hours, forming a modest bullish bias.
• Price retested 1.667 support twice but failed to break below, suggesting short-term stability.
• Volatility expanded after 17:00 ET, with volume surging to over 80,000, yet price consolidated afterward.
• Momentum shifted mid-session as RSI crossed overbought territory before retreating, hinting at potential pullback.
• A bullish engulfing pattern formed near 1.672-1.674, aligning with a potential breakout attempt.

Raydium/Tether (RAYUSDT) opened at 1.675 on 2025-11-01 at 12:00 ET-1, reached a high of 1.685, and closed at 1.677 at 12:00 ET. The 24-hour trading session saw total volume of 562,319.4 and turnover of 913,562.35. Price action suggests a consolidation phase after a midday breakout attempt, with key support and resistance levels becoming more defined.

Over the past 24 hours, RAYUSDT has tested key levels with notable structure. A strong rejection at 1.667 support around 17:00 and 18:00 ET signaled short-term buyers stepping in. A bullish engulfing pattern formed between 19:30 and 19:45 ET as price closed at 1.651 after opening at 1.621. This suggests increased buyer interest. A doji appeared at 20:00 ET, reflecting indecision. Resistance at 1.685 has held twice, indicating its strength.

The 15-minute 20- and 50-period moving averages show RAYUSDT trading above the 20SMA but below the 50SMA, suggesting a moderate bullish bias. Daily data (not provided) would be needed for longer-term moving averages, but recent intraday momentum indicates a potential breakout attempt is forming. The MACD line crossed above the signal line in the late afternoon, confirming a short-term bullish move. However, RSI peaked at overbought levels before retreating, indicating caution ahead.

Bollinger Bands show a modest expansion in volatility after 17:00 ET, with price testing the upper band before retreating. This suggests traders are responding to recent price action. Fibonacci retracement levels from the 1.685 high and 1.612 low identify 61.8% at 1.643 and 38.2% at 1.662. Price has bounced near both levels, suggesting potential consolidation. A break above 1.685 could target 1.697, while a drop below 1.667 may see 1.653 next.

Volume spiked to over 80,000 at 17:15 and 18:45 ET, but price failed to follow through, indicating possible exhaustion. Notional turnover rose correspondingly, but price action diverged, hinting that momentum may be waning. A key risk lies in volume failing to confirm a potential breakout above 1.685. If price continues to consolidate and volume tapers, a reversal could follow. Conversely, a breakout with rising volume would suggest a strong bullish continuation.

Backtest Hypothesis
Given the absence of a technical-indicator feed for RAYUSDT, a potential backtest strategy could involve identifying MACD golden-cross events (MACD line crossing above the signal line) on a 15-minute chart. Upon confirmation of such a signal, a 5-day hold strategy could be tested, with stop-loss placed at the 20-period moving average and take-profit at the next Fibonacci retracement level. This would provide a systematic way to assess the predictive power of the indicator in this market.